Economic Growth Cools as U.S. Companies Rein in Inventories

October 29, 2015 12:50 PM

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The economy in the U.S. expanded at a slower pace in the third quarter as companies took advantage of gains in consumer and business spending to reduce bloated stockpiles.

Gross domestic product grew at a 1.5 percent annual rate, in line with the 1.6 percent median forecast of economists surveyed by Bloomberg, Commerce Department data showed Thursday in Washington. Excluding the biggest swing in inventories in four years, the pace of growth was 3 percent compared with...